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Optimal Mechanism Design with Resale Via Bargaining
Zhang, Jun - 2016
bargaining game between the two buyers. We fully characterize an optimal mechanism under general conditions. Surprisingly, in … this optimal mechanism, the seller never allocates the object to the regular buyer regardless of his bargaining power in … if resale is prohibited. We find that the seller's revenue is increasing in the publicly known buyer's bargaining power …
Persistent link: https://www.econbiz.de/10012989366
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Inefficiency in private value bargaining with naive players : an experimental study
Possajennikov, Alexandre; Saran, Rene - 2018
The paper reports on an experiment on two-player double-auction bargaining with private values. We consider a setting …
Persistent link: https://www.econbiz.de/10011852503
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Modelling Transactions with Ultimatum Games: An Experiment on Certification
Guerra, Gerardo A. - Department of Economics, Oxford University - 2002
Ultimatum games have been extensively used in experimental studies. By studying the consequences that restrictions shared by ultimatum games have in subject`s behaviour, this paper argues that some results are falsified by design constraints. This paper also presets a taxonomy of certification,...
Persistent link: https://www.econbiz.de/10010604902
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Does Strengthening Collective Action Clauses (CACs) Help?
Ghosal, Sayantan; Thampanishvong, Kannika - 2007
We study the effect of strengthening CACs in a debt rollover model of a sovereign debt crisis. Conditional on default, there are multiple equilibria: the impact of strengthening CACs depends critically on the prevailing equilibrium. For a subset of equilibria, (i) given a fixed number of...
Persistent link: https://www.econbiz.de/10014049846
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A decentralized market with common values uncertainty : non-steady states
Blouin, Max; Serrano, Roberto - 1998
Persistent link: https://www.econbiz.de/10011504686
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Stationary equilibria in bargaining with externalities
Björnerstedt, Jonas; Westermark, Andreas - 2008 - rev.
This paper studies infinite-horizon bargaining between a seller and multiple buyers when externalities are present. We … stationary subgame perfect equilibria in generic games is presented. Equilibria with delay exist only for strong positive …
Persistent link: https://www.econbiz.de/10010128002
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Social learning and delay in a dynamic model of price competition
Aoyagi, Masaki; Bhallay, Manaswini; Gunayz, Hikmet - 2014
. A characterization of the equilibrium is given in terms of the probability of delay as a function of the degree of …
Persistent link: https://www.econbiz.de/10011421507
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Social learning and delay in a dynamic model of price competition
Aoyagi, Masaki; Bhallay, Manaswini; Gunayz, Hikmet - 2014
. A characterization of the equilibrium is given in terms of the probability of delay as a function of the degree of …
Persistent link: https://www.econbiz.de/10010381472
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Dynamic coordination with individual learning
Dasgupta, Amil; Steiner, Jakub; Stewart, Colin - In: Games and Economic Behavior 74 (2012) 1, pp. 83-101
We study coordination in dynamic global games with private learning. Players choose whether and when to invest irreversibly in a project whose success depends on its quality and the timing of investment. Players gradually learn about project quality. We identify conditions on temporal incentives...
Persistent link: https://www.econbiz.de/10011049831
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The effect of endogenous timing on coordination under asymmetric information: An experimental study
Brindisi, Francesco; Çelen, Boğaçhan; Hyndman, Kyle - In: Games and Economic Behavior 86 (2014) C, pp. 264-281
beliefs about the state of the economy undertakes an investment without delay. This decision (potentially) triggers an …
Persistent link: https://www.econbiz.de/10011049850